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Housing report disappoints as existing-home sales dip in February

Posted on 22 March 2012

John RydingSales of previously owned homes in the United States dropped 0.9 percent in February, according to a report released Wednesday, disappointing economists. The number indicates that roughly five years after the housing bubble burst, the real estate market’s road forward remains bumpy.
Many economists had thought that with mortgage rates near record lows and the job market improving, existing-home sales would rise. Homes were sold at a seasonally adjusted annual rate of 4.59 million, compared with 4.63 million in January, according to a report from the National Association of Realtors………………………………………..Full Article: Source


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